The former director of Goldman Sachs gs was convicted in 2012 for insider trading after turning himself in to the FBI. He was subsequently sentenced to two years in prison, which is about four times less than federal sentencing guidelines. Additionally, he was fined $5 million. Gupta, 67, finished out the last two months of his sentence under house arrest at his Manhattan home, BBC reports. As of Friday, he was officially released.

Gupta was convicted after leaking boardroom secrets to billionaire Raj Rajaratnam, the founder of hedge fund management firm Galleon Group. According to phone records, Gupta called Rajaratnam just minutes after a 2008 confidential conference call about Berkshire Hathaway’s $5 billion investment in Goldman Sachs. Rajaratnam immediately purchased $40 million worth of stock in the financial firm, which ended up earning him about $1 million. Rajaratnam is currently serving an 11 year prison term for securities fraud.

The Business Standard writes that, according to Gupta’s record at the Federal Bureau of Prisons, a U.S. court has agreed to rehear his appeal to throw out the 2012 conviction.

]]>http://fortune.com/2016/03/14/prison-sentence-rajat-gupta/feed/0Former Goldman Sachs Director Rajat Gupta Arraignment On Insider Trading ChargesmichaladdadyCourt denies former Goldman director Rajat Gupta’s bid to delay prison termhttp://fortune.com/2014/05/30/court-denies-former-goldman-director-rajat-guptas-bid-to-delay-prison-term/
http://fortune.com/2014/05/30/court-denies-former-goldman-director-rajat-guptas-bid-to-delay-prison-term/#respondFri, 30 May 2014 19:14:28 +0000http://beta.fortune.com/?p=547555]]>Despite his best attempts to put off going to prison for as long as possible, former Goldman Sachs director and board member Rajat Gupta found out today he has less than three weeks left as a free man.

Gupta, who lost an appeal of his 2012 conviction on insider trading charges this past March, has been ordered to surrender to authorities and begin his two-year prison term on June 17. The businessman, who is also the former head of management consultancy McKinsey & Company, filed a motion earlier this month to delay the start of his sentence, but a panel of three U.S. 2nd Circuit Court of Appeals judges in New York issued an order Friday rejecting Gupta’s request to remain free on bail for a little while longer.

Gupta’s attorneys had hoped the judges would allow their client to stay out of prison pending further review of his case, but those hopes were dashed Friday.

The Gupta saga dates back to 2008, when he participated in a series of phone conversations with hedge fund billionaire Raj Rajaratnam in which Gupta passed along insider information he had learned as a Goldman board member to the Galleon Group founder. This included tipping Rajaratnam off just before Goldman announced its $5 billion investment in Berkshire Hathaway in September 2008, at the onset of the fiscal crisis.

Rajaratnam himself began serving an 11-year prison term - the longest-ever for insider trading - in 2011, while dozens of others have also been convicted or plead guilty in connection with the insider trading bust.

Gupta’s legal team has argued that the former Goldman director’s trial was improperly affected by a federal judge’s decision to allow government prosecutors to submit wiretap evidence against Gupta.